It's easy really, you just put ads on sites visited by your target market. That's how advertising was always done before Gattica style snooping was involved.
Individually targeted advertising needs to be illegal. It's bad for society.
There have been a couple of natural experiments showing #2 where entire digital ad spends were slashed at once with little to no impact.
As for #1, look at where a massive chunk of Google's revenue comes from: companies trying to squat their own name and similar keywords to prevent some competitor's product from showing up next to their own.
Any platforms that create content already have well targeted ads without tracking. e.g. HBO
Even on content aggregators, that target niche audiences like HN have well targeted ads without tracking. Jobs and of course Ycombinator listed everywhere.
Killing tracking kills the mega content aggregator industry (front page of Reddit, maybe Facebook feed, etc) but this is likely a good thing.